I was told that part of the town was left intact when they created the lake and figure it might be worth putting on my "places i would like to dive" list. also any suggestion on the best time of year to plan for a dive, if you consider it worth doing.

I have dived there a couple of times - never seen the Old Town though I have heard it is buried under a couple of metres of silt.... The old bridges are still there though and they are a pretty cool dive. There are some videos online of the bridges

I'm pretty sure that is a myth. Certainly nothing to dive on, apart from the bridges which we will be diving on September 4th if you are keen.http://scubastevewanaka.webs.com/trips.htmThere are pictures at the pub in Old Cromwell Town which clearly show that there was nothing but earthworks and terracing left in the flood zone.A lot of people, including myself, are fooled my the small buildings left by the lakes edge.